Operational Update

Source Press Release
Company Amerisur Resources Plc 
Tags Production/Development, Exploration, Upstream Activities
Date October 17, 2018

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to provide an operations update. 

At CPO-5 (Amerisur 30%), the operator has informed the Company that rig E-2029, owned by Estrella, is currently rigging up to drill the Indico-1 well, with spudding on track for the latter half of October. Indico-1 is targeting the same play as the successful Mariposa-1 well, which last week produced its 1 millionth barrel, with negligible water.  Indico-1 has P50 recoverable resources of 10.3 MMBO (gross). The operator currently expects to drill Aguila-1 (targeting 2.7 MMBO gross) and Sol-1 (targeting 4.0 MMBO gross) thereafter. Good progress is being made with ground works and the construction of a new pad for the drilling of Sol-1. Photographs of the works can be found on the Company's Twitter page @AmerisurResourc.

Unaudited production from the Company's two producing fields, the Platanillo Field and the Mariposa-1 Long Term Test in the month of September was 149,226 barrels of oil with average daily production of 4,974 BOPD and peak daily production of 5,025 BOPD, with Platanillo crude exported through the OBA. The Pintadillo-1 well test in the T sand is continuing at varying levels of production based on the testing. Initial results indicate that the well is located low on the new structure. The Company expects to complete re-mapping of this discovery in the next four weeks, followed by a decision on further drilling to appraise the discovery.

The recently acquired Coendu seismic data in Put 12 and Put 9 has now been processed and is being interpreted prior to finalisation of the first Coendu drilling location.

As the company moves into a busy period of drilling, it will be providing regular operational updates around these activities, alongside quarterly production updates, as per oil industry best practice disclosure.

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd